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Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
 Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of supply of goods. We are witnessing an ongoing situation that is still evolving and the effects could be profound and long-term. Accordingly, how the shipping industry will look like post the pandemic is clouded and yet to be seen.
With international transport at the cutting edge of trade and dependent on travel and human interaction, the maritime industry has been wedged both directly and indirectly from the covid-crisis.
Focusing on the EU trade it has been reported that the number of vessel calls at EU ports declined by about 10.2% in 2020 compared to 2019. However, in February 2019, there were 50,823 ship calls at EU ports versus February 2021 that there were 51,157 ship calls. Therefore, it has lately been ascertained that the number of calls have increased by 1% in comparison with 2019, as trade activity in certain shipping sectors has rebounded YTD in 2021.
The most significantly impacted sectors basis vessel’s calls at EU ports between 2019 and 2021, have been the cruise sector, passenger ships, refrigerated cargo vessels and vehicle carriers. In 2020, the ship traffic from Europe to China and the US has declined when compared to same periods in 2019 while this destructive trend continues in 2021 for certain shipping sectors. The EMSA report has indicated that the Cruises’ sector was the most heavily impacted one by the outbreak. Other sectors were also affected, but in general the trade didn’t cease with the main beneficiary over the past few months being the containers sector. As the epidemic continues to roll, ports have faced an unprecedented number of vessels at anchor and vessels queue-up waiting to discharge with logistics disruptions contributing to multi-year high container freight rates.
During 2020, the imports from China to EU were heavily impacted especially since May 2020 and onward with only 36% of their usual volume of port calls coming into the EU from China. In reference to exports from Europe to China the first leading decline occurred in March 2020 with the number of port calls originated by the EU and destined to China, equal to only 58% of the volume of these port calls when compared with May 2019. Furthermore, USA used to be the biggest trading partner of the EU, but volumes were severely impacted, and China emerged instead as its largest trading partner. Asia’s exports to the West have emerged stronger in early 2021 with US containerized imports in particular - from Asia estimated up by approx. 29.0% y-o-y. The trend looks set to continue and is expected to exacerbate container vessels congestion in the west, as demand emerges stronger amid an unprecedented stimulus package in the US.
Unluckily, this worldwide outbreak has imposed urgent challenges for both the import and export trade for most of the ports around the globe. In addition, various disputes arose between Charterers and Owners, in reference to vessels’ hire period, lay-time, and discussions of relevant clauses. Repeatedly, the force majeure of the pandemic and the quarantine time prevented the contract completion as initially agreed and accordingly, the hire period agreement was surpassed in many charter parties worldwide. However, in sequence, the multiplier effect to trade from stimuli across the globe, excess consumer savings and increased congestion at ports has led certain shipping sectors to experience multi-year or record high freight rates with the hope that the new upward cycle that has emerged will be sustained.
As a general comment, despite the difficulties, commercial ship operations, ports and other maritime transport sectors have continued to operate ensuring the movement of products and proving the strategical value of maritime for our livelihoods.
By Katerina Restis,
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
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Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
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- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
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